Many detached homes in Toronto are out of reach for first time buyers. 46 Stephen Drive may be the exception. It’s a solid brick 2 bedroom bungalow priced at $599,000 with an opportunity for an income suite on the lower level.
Many first time buyers will find the possibility of an income suite very attractive. The can move in to the upper level and have tenants on the lower level help pay their mortgage.
Income suites offer a great way that first time buyers to accelerate the pay down of their mortgage in the early years. As their incomes increase they always have the option to take over the entire space. Income suites aren’t for everyone however they do offer some advantages if you’re up to the challenge of being a landlord.
If you’re interested in seeing this property, please call Jody at 416.450.5900
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